US Verdezyne may build biochemical plant in Malaysia

HOUSTON (ICIS)--Verdezyne is assessing Malaysia as a possible site to build its first biochemical plant in the Asia Pacific region, the US-based industrial biotechnology firm said on Tuesday.

Verdezyne said that it agreed to work with Malaysian Biotechnology Corporation on assessing a possible plant in Malaysia.

Verdezyne added that it already entered into “multiple discussions” with Malaysia’s palm oil producers and that its presence in that country would “create cascading opportunities” for potential partners who are planning to venture into the downstream production in the palm oil industry.

“We are taking a very bold move in entering uncharted territories,” said Verdezyne CEO William Radany.

“Nevertheless, Malaysia’s position as one of the largest palm oil producers and its strong drive in the development of the biochemical sector has made it an interesting location to catapult into the world’s largest chemical market, Asia,” he said.